Latest news with #BuildingIndustryandLandDevelopmentCalgaryRegion
Edmonton Journal
26-05-2025
- Business
- Edmonton Journal
How does Calgary keep market housing affordable and in supply?
Article content Calgary's market housing is at the tipping point of affordability. But does home ownership have to slip out of reach or can the situation be reversed? Building Industry and Land Development Calgary Region brought together independent industry experts for a summit, Unlocking Doors: Housing Supply and Affordability Summit, earlier this month to discuss ways to prevent market housing from escaping the reach of would-be homebuyers.
Calgary Herald
21-05-2025
- Business
- Calgary Herald
How does Calgary keep market housing affordable and in supply?
Article content Calgary's market housing is at the tipping point of affordability. But does home ownership have to slip out of reach or can the situation be reversed? Article content Building Industry and Land Development Calgary Region brought together independent industry experts for a summit, Unlocking Doors: Housing Supply and Affordability Summit, earlier this month to discuss ways to prevent market housing from escaping the reach of would-be homebuyers. Article content Article content 'We're the second most affordable metropolitan area in Canada. That is great, but that will also draw people here, so we have to redouble our efforts,' says Brian Hahn, CEO of BILD Calgary Region. Article content Article content Canada Mortgage and Housing Corp. describes housing as affordable when a household spends less than 30 per cent of its pre-tax income to cover mortgage, property tax and utilities. That number has hovered above 40 per cent in the Calgary area for the past three years, show RBC's Thought Leadership Series on Canadian Housing quarterly reports. By comparison, the latest report shows the average across Canada was 58.4 per cent in the fourth quarter of 2024. Vancouver reflected the most unaffordable metropolis at 92.8 per cent, while Toronto was at 70.8 per cent. Edmonton came in as the most affordable of the group at 33.6 per cent. Article content Article content While the solution to tight demand and high prices might be simple in theory — build more homes — the reality of increasing market housing and affordability involves many moving parts. Article content 'The biggest challenges are the time from dirt to door, and cost. Every bit you can shorten up on time helps on the cost side, and everything you can do on the cost side helps,' Hahn said. Article content SHORT ON HOUSING Article content According to CMHC, Alberta needs 130,000 more housing units by 2030 to meet demand created by so much in-migration in the past few years. Article content There's an argument to be made that Alberta's builders and developers are up to the challenge. The province marked record building starts topping 46,000 in 2024. However, it's not quite that simple, points out Hahn. Top of mind is the aging skilled labour force. Article content 'We need to make sure that people are entering the fields that are the skill sets that support land development and housing,' Hahn said. 'Trades are one, and we're grateful for what the province and the federal government has done in terms of supporting that. But also we would like to see focused programs in terms of immigration and making sure that amongst those who come to Canada are those who have experience in construction, and home construction, in particular.'
